With giants like Gillette, Accenture, Tag Heuer, and Gatorade having jumped ship, Tiger's major deals are down to three: Nike (NKE), Electronic Arts (ERTS), and Kowa. His EA Sports video game, Tiger Woods PGA Tour '12, set a first-week franchise record of 225,000 games sold. But our source also tells us that Tiger's Nike money fell by as much as 50% in 2010 (to about $10 million, down from $20 million in 2009) and that he will get the same reduced amount for 2011. The reason? Nike penalized him for his indiscretions, reducing his payment for two years as a response to his public behavior. Nike had no comment.

That Nike would have renegotiated Tiger's contract to give him a temporary pay cut may be hard to believe, but Bob Dorfman of Baker Street Advertising says, "That's not surprising. They're not going to release him entirely, because that's not the way they are, but [a pay reduction] would not surprise me at all."

Recent valuations of Tiger's overall endorsement earnings for 2011 have been between $60 million and $75 million. But based on our information about Nike, and on the Kowa estimates, the real number is likely closer to $20 million.

Woods's agent, Mark Steinberg denies the accusation that his client is going broke.

"Tiger Woods is financially sound and strong, contrary to wide-ranging rumors and inaccurate figures in the media," Steinberg wrote in an email. "Stating anything else is incorrect and factually baseless."